Longterm trust is going to be an ongoing issue yes. When GOX's prices and services are reasonably close in value to other exchanges why would you stay with them when peace of mind has been so lacking in the past? Well you probably won't. But people don't need trust if they gain something. People who don't trust non organic food growers, but they still buy their food. People who don't trust the oil industry could ride a bike, but they still buy gas. Sooo... In the short term, after you've withdrawn your limit and are waiting to withdraw more, people will realize there is working "buy low GOX/sell high elsewhere" scenario happening. then...> When people buy the price will rise.
> When the price is high, due to trust issues, people will sell & the price will drop.
> When their price drops people will buy & the cycle will repeat.Just ideas and opinions so far. Of course these don't make my theory impossible. Successful people build their careers on proving ideas and opinions wrong  Give me something solid that's not open for debate. Such as, its actually illegal, or mathematically impossible, etc. I gave you a good reason why it's impossible. Gox is reported to owe as many as 68,000 BTC, and your proposed solution does nothing to erase that debt. You can't just set a withdrawal limit when a withdrawal of any amount is already owed to someone else. What Gox needs is a solution to pull them out of debt, not just to get people who will never be able to withdraw their deposit trading again. |
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What you suggest isn't possible, at least for a "full recovery" as you stated, because this does nothing to solve the problem of owing their customers as much as 68,000 BTC by some estimates. Setting low withdrawal limits doesn't do much good if any number of coins requested for withdrawal are owed to others first. As long as Gox owes ridiculous sums of money, there will always be jammed-up withdrawal requests.
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Bumped for awareness...
...though I'm not definitively suggesting that this is happening.
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Block reward for DOGE halved tonight.
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I'm calling it.
Tonight/today (depending on where you are), Gox earns its tombstone.
It reads:
"Mt. Gox - Exchanging Magic for Mountains of S*** since 2010"
R.I.P. you filthy animal.
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Stop being morons.
Seriously.
Gox price = fictitious and the exchange needs to die.
Good riddance.
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I'd volunteer to provide escrow services for free for this transaction, OP.
Your move.
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Open...source...
It's the current choice of those who download the Satoshi client to download it. If someone else releases something better, or if the current dev team releases a shoddy client, people can react accordingly.
There is no need to trust the people making the software if it's open-sourced. If you want, you can learn to read code and examine it for yourself and reach your own conclusions. That's why businesses hire auditors (who provide evidence of their qualifications, and thus they are the ones who need to be trusted) to examine code.
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-Matthew N. Wright (completely absurd that one poor bet overshadowed his contributions to the community)
Who do you trust more, Goat (whatever long absurd username he has now, something like "Grand poobah of bullshit mountain Goat") or Matthew N. Wright? Absolutely, without a doubt, Matthew N. Wright. Seriously, this didn't even cause me a second of hesitation. the joint, still upset i got the 5 btc you thought you won in that bet, how sad. mnw 4 time scammer  Come on, Goat, don't be so sensitive. What is it with you and bringing up shit from like two years ago? Don't you even remember the outcome? We both won. |
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Just think Bitcoin would be a tech startup which issues shares (1 BTC = 1 share). Current market cap ~$10B is just a pittance comparing to the other tech corporations (Apple, Microsoft, Intel, IBM) and its growth potential is at least up to 100 billion IMHO.
Put simply, BTC loses many of its benefits in that scenario. |
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In purportedly owing their customers (correct me if I'm wrong) ~68,000 BTC, Mt. Gox has a very large financial incentive to see the market tank.
Do you think this incentive will play itself out, or are there any indicators to suggest it has already?
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Bump One left! |
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-Matthew N. Wright (completely absurd that one poor bet overshadowed his contributions to the community)
Who do you trust more, Goat (whatever long absurd username he has now, something like "Grand poobah of bullshit mountain Goat") or Matthew N. Wright? Absolutely, without a doubt, Matthew N. Wright. Seriously, this didn't even cause me a second of hesitation. |
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A few come to mind:
-etotheipi (for Armory, the gem of wallet security)
-Jon Matonis (more for his consistent press rather than his contributions to the Foundation)
-Trace Mayer (I'm not sure if he has an account here, but I respect his knowledge and professional demeanor)
-Casascius (duh)
-Matthew N. Wright (completely absurd that one poor bet overshadowed his contributions to the community)
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Anyone have TS contact? Already paid for 2 coupons, but he still don't online Don't worry, I just sent them, and you have PMs |
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Hello guys. I am now selling my Private Key cracker. I reccomend you have a good CPU because this finds the key via brute force. Also to prove this is legit I will be giving out three vouch copies. The only catch is you have to add me on skype to receive the files. If interested PM me.
Do you have any idea of the population to whom you are speaking? |
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Bump |
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people dont like 0.997664BTC, they want at least 1BTC.
Just like people not wanting $0.997664M. They want at least $1M. Yes, absolutely. Time and time again, people here seem to think that psychology plays no factor. It's absolutely the case that the high valuation of BTC dissuades a large number of people from investing. How do we know this? Because I hear/see comments like this all the friggin' time! Edit: Why do you think we see price tags like $999.99 instead of $1,000? |
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Edit: Two have been sold; one is still for sale.
Hello,
I have three one Battlefield 4 redemption code available. They were included with my Sapphire R9 290x's, and since I have extras, they're up for grabs.
These are scratch-off codes that come on paper inserts. I can either mail the insert to you in an envelope or reveal the code myself and send via email or PM.
Price: 0.025 BTC or 1.000 LTC -- Buyer pays first, no questions asked.
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